Monday, March 29, 2010

Irish Banks in Trouble

Irish bank shares took another hit on capital concerns, but "Bad News" and "Banks" have run hand-in-hand for the past couple of years. Today's news simply pushed AIB back inside its base, and BOI closer to the low end of its base, leaving it to bulls and bears to duke it out once more for control.

For both Bank of Ireland and AIB, the critical defense area is €1.00 which has been vigorously defended twice in the past 4 months and looks destined for a third test in 6 months. If bulls can't convince the market the banks are worth one euro a share then it could be Sayanora for shareholders. 

Zignals Chart Image

Zignals Chart Image

Bank of Ireland looks to be the more troubled of the two based on demand for its shares and looks likely to test €1 support first.

The best way to trade Irish shares is to use a Zignals Trading Strategy. There are currently two Irish strategies available: "Irish Oak" is a short strategy which has returned 41% since inception (new signal for DCC today); the second, "Irish Elm", is a long strategy which has returned 11% since inception. Better still, why not create your own Irish Trading System.

Zignals Chart Image

Of some of the other trading stratagies available on Zignals:

ASX Oak

Short Exit at Stop for ALL (Sydney) at AU$4.49
Short Exit at Trailing Stop for WPL (Sydney) at AU$47.33

ASX Price x 20-day MA

Long Confirmation Entry for TAH (Sydney) at AU$6.93
New Long Target and Stop for STO (Sydney) at AU$14.68 (EoD): Target AU$16.30, Stop AU$14.08
Long Confirmation Entry for DJS (Sydney) at AU$4.98
Long Exit at Trailing Stop for ERA (Sydney) at AU$19.19

BSE Zignals

Long Confirmation Entry for WRWDT (Mumbai) at INR1620.2
Long Confirmation Entry for ZEE (Mumbai) at INR269.5

Forex Bull Trender

Long Confirmation Entry for NZDUSD (FX) at 0.7030

Forex Elm

Long Entry for GBPUSD (FX) at 1.5080

Forex High Winners

Long Confirmation Entry for GBPUSD (FX) at 1.5080

Forex Oak

Short Confirmation Entry for GBPUSD (FX) at 1.5280
Short Confirmation Entry for EURUSD (FX) at 1.3630
Short Confirmation Entry for AUDUSD (FX) at 0.9110

Frankfurt High Winners

Long Confirmation Entry for VOW (Frankfurt) at €71.24
Long Confirmation Entry for KRN (Frankfurt) at €38.38

Indian Golden Brown

New Long Target and Stop for CAIRN (Mumbai) at INR301.7 (EoD): Target INR332.6, Stop INR272.2
New Long Target and Stop for BAJAU (Mumbai) at INR1980.0 (EoD): Target INR2192.9, Stop INR1794.2

Indian High Winners

New Long Target and Stop for BAJAU (Mumbai) at INR1992.5 (EoD): Target INR2192.9, Stop INR1893.8
New Long Target and Stop for JLVY (Mumbai) at INR1334.7 (EoD): Target INR1417.6, Stop INR1282.5
New Long Target and Stop for HALC (Mumbai) at INR178.9 (EoD): Target INR189.4, Stop INR171.4
Long Confirmation Entry for ESRO (Mumbai) at INR137.5

Indian Strength

Long Confirmation Entry for ABAN (Mumbai) at INR1151.6
Long Confirmation Entry for GRSM (Mumbai) at INR2877.7
Long Confirmation Entry for ACC (Mumbai) at INR941.9
New Long Target and Stop for BAJAU (Mumbai) at INR1992.5 (EoD): Target INR2192.9, Stop INR1834.0
Long Unacted Entry for HPCL (Mumbai) at INR312.3 (EoD): Entry signal given, but exited position on same stock too recently (15) days ago.
Long Entry for SBI (Mumbai) at INR2069.1
Long Unacted Entry for TELCO (Mumbai) at INR729.5 (EoD): Entry signal given, but exited position on same stock too recently (14) days ago.

Irish Oak

Irish Oak Short Confirmation Entry for DCC (ISEQ) at €19.09

MA Crossover

Long Exit at Trailing Stop for IP (NYSE) at $25.06

My First Subscribed Strategy

Long Confirmation Entry for SBUX (Nasdaq) at $24.44

UK Golden Brown

Long Entry for BBAY (London) at 367p

UK High Winners

Long Confirmation Entry for TEP (London) at 295p
New Long Target and Stop for CCT (London) at 113p (EoD): Target 120p, Stop 108p
Long Unacted Entry for BBAY (London) at 367p (EoD): Entry signal given, but exited position on same stock too recently (12) days ago.

US Strength

Long Entry for SBUX (Nasdaq) at $24.44
Long Exit at Trailing Stop for IP (NYSE) at $25.06

Follow us on twitter here

How to Get Started with Zignals

Build a trading strategy in Zignals and potentially earn money too; download our Build a Trading Strategy PDF and get selling (and trading) today!


Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals MarketPortal or the Zignals Trading Strategy MarketPlace.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.

JOIN US TODAY - IT'S FREE!

blog comments powered by Disqus